Living Costs in the Dominican Republic

AlterEgo

AlterEgo

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Jan 9, 2009
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MikeFisher said:
i understand that you already have the 55K for the house on the bank/cash in hands, so there will not be nany mortgage to be paid off once you are moved, right.
still, $1.600.- per month for a couple maintaining a own home(hey, we all know that renting is often ""cheaper"", lol, there are always costs, stufff to be fixed etc) and sure you want to drive a car(or two?) sounds like a very low budget for a homeowner. the belts will be set tight on such budget, considering that retirement often(sooner or later) comes with extra medical expenses etc, aside of the usual every day living costs.

Mike
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We're a good example of that.

In one month's time: 4 batteries died, had to be replaced. Husband hit in head with pickaxe, medical bills. Cesspool collapsed, had to have a new one dug and all new piping. Dogfight between our rotties = vet bills. I won't bore you with the rest of our problems, you get the idea.
 
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mountainannie

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Dec 11, 2003
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you need to really think about retiring here without medicare.. You have to buy the medical insurance here before the age of 66 .. most policies end at 70. (someone did post that they bought it at 70 but it all depends on your health).. OK it is a choce. and maybe you already have the land? And will be close to family? Who will care for you?
 
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PaGuyinDr

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Sep 2, 2013
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AlterEgo said:
We're a good example of that.

In one month's time: 4 batteries died, had to be replaced. Husband hit in head with pickaxe, medical bills. Cesspool collapsed, had to have a new one dug and all new piping. Dogfight between our rotties = vet bills. I won't bore you with the rest of our problems, you get the idea.
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My wife asked me to ask you how can you hit someone on the head with a pick axe and make it look like an accident?
 
keepcoming

keepcoming

Moderator - Living & General Stuff
May 25, 2011
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SteveK said:
My wife, whose Dominican, and I plan on retiring in the Santiago area in a few years..Looking at $1,600 USD a month..we are looking to build a home for about 50-55k USD...hopefully we'll get by...:nervous:
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This unfortunately is not a very good place to "get by" in. Things happen, unexpected financial things. Just as AE pointed out sometimes these unexpected situations come in pairs or three's. There always seems to be some unexpected financial expense around every corner. One must be prepared, really prepared. I know sometimes when one retires they are looking for a more "simple" way of life. But there is a huge difference in simple here and simple in the US. Let me add...I have been here a number of years so I know how to do my shopping. I am still amazed everytime I leave the supermarket on how much things cost. I know I live in Santo Domingo and it may be different in smaller towns but bottom line it is expensive to live here.
 
Harleysrock

Harleysrock

Gold
Nov 4, 2012
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I don't find ANYTHING simple here and I'm not sure that it is very relaxing or stress free either!
We sure got a wake up call retiring to the CHEAP relaxing paradise of DR!

I was beginning to start thinking we were the only ones who had nonstop surprise expenses! I am glad we are not!

Seriously don't move here unless you are sure you have twice as much money as you think you will need!

I find the rental prices kinda high on the NC, maybe I am just not looking in the right place. I
want to rent if we sell but the Wife and realtor said why if we plan on living here for a while.

I am not a rental type person is this seriously the better way to go?! We are youngish and that seems like a lot of money to just ditch!
 
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Chicagoan

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May 27, 2011
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Harleysrock said:
I find the rental prices kinda high on the NC, maybe I am just not looking in the right place. I
want to rent if we sell but the Wife and realtor said why if we plan on living here for a while.

I am not a rental type person is this seriously the better way to go?! We are youngish and that seems like a lot of money to just ditch!
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You have more experience here than I, so I hesitate to give advise, but I have come to the conclusion that I will never buy. My plan is to retire to Sosua next year, and rent, rent, rent. While you think the rentals are "kinda high", I think they are very reasonable. And then you don't have to worry about selling the place eventually.

Looks to me like it's easy to buy and hard to sell.
 
MikeFisher

MikeFisher

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right, it is easy to buy, all is for sale and since the crash some years ago prices are cheap for buyers all around, but it is in most areas almost impossible to sell without big loss's.
to rent leave's you flexibel to move when ever you want, in case a neighbourhood which seemed to fit turns into something different, or if you want to experience a different area of the Island for a while etc.

Mike
 
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JayinRD

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Apr 18, 2013
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Renting and private taxis/express buses when needed...cheaper way to go and much less stress. I bought that ?can't miss beachfront house deal" on a different tropical island paradise .. turned outto be a miss" and was lucky to take only a 20k loss when it came time to sell. Wont be making that mistake again.
 
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JayinRD

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Apr 18, 2013
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200 a month ...for that kind of money you have the tipico dominican apartment lifestyle..not that there is anything wrong w that. I pay $900 per month for my ?luxury apt" here in santo domingo and yes for the RD that is expensive ..but this place would cost me 1500-2000 where i am from in south florida
 
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chola1978

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Mar 20, 2006
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Moving to the Dominican Republic has its ups and donw .....just like moving from NYC to any other American city say.. Phoenix, Las Vegas, Miami, Buffalo, .... ... What I mean is the following. This is not a typical tropical isalnd paradise since its cities are not all costal and haver very little costal development. I live in Santiago and its more of a colonial south american landloock. Homes are more mediterenea style and cost of proeprties start out about 21000 Pesos per m2. Renting vs Buying is not a amter of good or bad but your preference toward home onwership. Santiago is a city that has lots to offer and prices are reasonable for people on Fixed income that are looking to get a big band for their retirment dollars. Rentign here you cna find prety nice apermtent 50-80 m2 for under 250usd per motnh is good areas. Now if you come from expesive livign areas i nthe states you will get similar living placese here for less. Luxury is expesive anyware in the world.
 
MikeFisher

MikeFisher

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Santiago is the Only Mayor City/big populated area on the Island not located right at the Ocean, all others are located on the coasts, all other mayor populated areas/mayor cities are located on the coasts. this makes the DR a fully supertypical tropical/caribbean destination, with exception of the ones who choose to move to Santiago of course.

Mike
 
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drescape24

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Nov 2, 2011
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Chicagoan said:
You have more experience here than I, so I hesitate to give advise, but I have come to the conclusion that I will never buy. My plan is to retire to Sosua next year, and rent, rent, rent. While you think the rentals are "kinda high", I think they are very reasonable. And then you don't have to worry about selling the place eventually.

Looks to me like it's easy to buy and hard to sell.
Click to expand...

If you ever meet HR and see how young him and the Mrs are you would understand why buying is an option. Oh I hope you do, they're great people!

drescape24
 
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tommeyers

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Jan 2, 2012
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I live in Santiago
I am surprised by the actual costs reported here. I live well at well under 2000 per month. Single, house (500+) in STI, taxi and public car for transport, DR foods (except plantains!) Limited alcohol, no tobacco, no women (or men), dinner out 1x per week, 100/no for prescription drugs. I indulge my cheap hobbies too.

I live well and better than I could in the US.

I developed a budget before moving here based upon experience visiting (1 week, 2 weeks, 2 weeks, 2 months). I live that budget. I have had unexpected medical costs too.

Did I plan too well?
 
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Criss Colon

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Jan 2, 2002
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One person, $2,000 a month is doable.
But I didn't move here for "Doable"!
In Santiago????????????
Was your "Medical Expense" due to "Chronic Boredom"?????????
I need a big city, AND "WATER"!
But if YOU are happy, that's all that really matters!
Good For You!
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